Westside Vancouver Detached Property Market Update : October 13 – October 20

We would like to present ‘Westside Detached Stat Package’ for the week of October 13th – October 20th.

The Westside Detached market experienced a fall back in new listings numbers; similar to late-September conditions, after rallying briefly the previous two weeks. Supply numbers struggled, moving to 55 new detached active listings in the Vancouver West Region; down from 81 the previous week. Confirmed sales transactions, however; maintained a pace we’ve identified as fairly average over the past two quarters of 2009; we saw 47 detached sales (down from the 48 the previous week). Not surprisingly, sales performance should remain stable through third quarter 2009 prior to a pre-Olympic surge in the late fourth quarter flowing into Q1 2010. Buyer competition remains especially active in Kitsilano, Dunbar, and Point Grey. Sharp pricing and the advice of a Realtor remains paramount, however; as over-priced listings tend to struggle in today’s market conditions, with well-priced product moving quite quickly.

Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.

The 55 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 6
Cambie (CA) : 6
Dunbar (DU) : 11
Kerrisdale (KE) : 2
Kitsilano (KT) : 5
MacKenzie Heights (MH) : 2
Marpole (MR) : 2
Oakridge (OA) : 2
Point Grey (PG) : 2
Quilchena (QU) : 2
South Granville (SG) : 6
Shaughnessy (SH) : 3
Southlands (SL) : 3
S.W. Marine (SW) : 3

55 total new detached listings on the Westside from October 13th – October 20th.

This past week there were 47 detached sold listings (compared to the 48 sold listings the previous week) in the Vancouver West Region. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.

The 47 detached sold listings on the Westside were distributed as follows:

Arbutus (AR) : 3
Cambie (CA) : 2
Dunbar (DU) : 7
Fairview (FA) : 1
Kerrisdale (KE) : 1
Kitsilano (KT) : 3
Mackenzie Heights (MH) : 3
Marpole (MR) : 5
Oakridge (OA) : 2
Point Grey (PG) : 5
Quilchena (QU) : 1
South Cambie (SC) : 1
South Granville (SG) : 7
Shaughnessy (SH): 3
University (UL) : 3

47 total detached sales on the Westside from October 13th – October 20th.

New listing supply experienced a rather dramatic drop across all neighbourhoods this past week, well sales transactions continued along what we’ve come to identify as ‘average’ through the early Fall periods. We anticipate a relatively stable market through October prior to a resurgence in the Fall which should carry us through Quarter 4 2009 and the 2010 Winter Olympic Games.

If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.susankeevil.com and http://www.vancouverrealtyonline.com for even more real estate updates and info!

Westside resident? Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!